A recent addition to a possible chain of measures is the introduction of the “New Wage Code”, which will ensure that each employee has a sufficient amount of savings in the form of provident funds. This new code which will be applicable from the beginning of the new financial year, April 2021. With the new policy in action, the salary structure for most of us will be changing.
According to the new wage code, your basic pay should at least be 50% of the total Cost to the company (CTC). But how will this impact your in-hand salary?